Fairmont: Convertibles holders no longer opposed to co. buy

CarolynPritchard

SAN FRANCISCO (MarketWatch) -- Fairmont Hotels Resorts Inc.
FHR, +5.53%ca:fhr
said Thursday the holders of its senior convertible notes that had been planning to oppose the company's acquisition by Kingdom Hotels International and Colony Capital have now committed to tender their notes to the deal. Kingdom Hotels and Colony are increasing their tender offer for the notes by 25 basis points, the Toronto-based hotel operator said. The acquisition is expected to close in early May.

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